||St. Louis, MO - North Missouri Railroad Co. per the Franklin Savings Institute 50 Cents November 18, 1862. PCGS Very Fine 20 Apparent. This is the second of two denominations (the other 25 cents) from the Newman Collection from an extremely rare and distinctive scrip series. Payable at the Franklin Savings Institution on behalf of the railroad company, they could circulate locally or be used on the railroad or along the route. Fully issued and signed, though it is difficult to discern the signer's name. This small format-note was printed in all blue without imprint. A train with freight and passenger cars is at the upper left, titles and denomination are across, and a large, bolded "50" counter is at the upper right. Noted with "Small Edge Tears." The railroad printed several types of advertising notes later, but the Newman Collection examples are the first circulating St. Louis scrip from the issuer we have observed. Ex: Eric P. Newman Numismatic Education Society.
From Newman X (Heritage Auctions, November 2018), lot 20156, realized $1200.